The Chinese Stainless Steel Exchange (CSSE) based in Wuxi city, Jiangsu province, is growing in importance as Asia's biggest stainless steel exchange center.
Its function in the spot physical market is increasingly crucial for traders, who look to it for daily spot price direction. CSSE has a variety of contracts traded on its platform, including silver, nickel, stainless steel cold-rolled coil, indium, tin and cobalt futures. "Trading activity picked up more from last year onwards, especially as more market participants came onto our platform to trade stainless steel cargoes," CSSE spokesperson Jiang Hai Ling said. This was mainly due to the desire to have more liquidity and a larger pool of buyers and sellers to trade with, Jiang said. The average daily transaction volume of stainless steel forward contracts in 2016 and...